HDFC Bank Ltd on Friday said its gross advances soared 62.4 per cent to Rs 24,69,500 crore as on December 31, 2023, compared with Rs 15,20,500 crore as on December 31, 2022. After accounting for transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 60.7 per cent and 3.8 per cent year-on-year (YoY) and quarter-on-quarter (QoQ), respectively, the lender said in a regulatory filing.
Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the HDHC Bank’s advances grew 60.7 per cent on a year-on-year (YoY) basis and 3.8 per cent on a quarter-on-quarter (QoQ) basis, the company said in its filing to the exchanges.
The domestic retail loans grew 111 per cent YoY and around 3 per cent QoQ while commercial and rural banking loans grew around 31.5 per cent YoY and by 6.5 per cent QoQ. The corporate & other wholesale loans excluding non-individual loans of the erstwhile HDFC Limited grew by 11 per cent YoY and 2 per cent over QoQ.
“As per the bank’s internal business classification, domestic retail loans grew by around 111 per cent over December 31, 2022 and around 3 per cent over September 30, 2023; commercial & rural banking loans grew by around 31.5 per cent over December 31, 2022 and around 6.5 per cent over September 30, 2023; corporate & other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) grew by around 11 per cent over December 31, 2022 and around 2 per cent over September 30, 2023,” the private lender said.
HDFC Bank’s deposits aggregated to approximately Rs 22,14,000 crore as on December 31, 2023, a growth of 27.7 per cent over Rs 17,33,200 crore as on December 31, 2022 and a growth of around 1.9 per cent over Rs 21,72,900 crore as on September 30, 2023.
Retail deposits, HDFC Bank said, increased by around Rs 53,000 crore during the quarter, and grew by around 28.4 per cent over December 31, 2022 and around 2.9 per cent over September 30, 2023; wholesale deposits grew by around 24.4 per cent over December 31, 2022 and were lower by around 3.4 per cent over September 30, 2023.
The bank’s CASA deposits aggregated to Rs 8,35,500 crore as on December 31, 2023, a growth of around 9.5 per cent over Rs 7,63,000 crore as on December 31, 2022 and around 2.2 per cent over Rs 8,17,700 crore as on September 30, 2023. Retail CASA grew 10 per cent over December 31, 2022 and 2.3 per cent over September 30, 2023.
HDFC Bank’s CASA ratio stood at around 37.7 per cent as of December 31, 2023, as compared to 44 per cent as of December 31, 2022 and 37.6 per cent as of September 30, 2023.
HDFC Bank will announce its quarterly earnings on January 16.
The updates were given ahead of the market opening following which the stock fell 0.74 per cent to the day’s low of Rs 1,678.25 on the NSE.
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